Deja Voodoo Economics

Gee it was earlier this week that I reported on this.Except that Stats Can report was more blue sky messaging, the glass half full rather than the glass half empty.

In that case you had to read between the lines, this is more honest reporting. No blue skying this, tax changes have only benefited the rich.

Rich get richer, poor get poorer, study finds

Updated Fri. May. 11 2007 8:55 AM ET

Canadian Press

OTTAWA -- A new study says the gap between rich and poor is widening in Canada, appearing to confirm that the rich do indeed get richer while the poor get poorer.

Statistics Canada found that inequality in after-tax family incomes has increased over the past 15 years.

The study says that while the tax-transfer system changed in many ways throughout the 1990s, it reduced income inequality by as much in 2004 as it did in 1989.

The study found that incomes among the top 10 per cent of earning families rose by 22 per cent between 1989 and 2004, while at the same time incomes fell 11 per cent among the poorest families.

SEE:

Canada's Wealthy, Still

Productivity

Taxes

Wealth


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Not So Good News

The rich get richer and the rest of us run in one place says the latest Stats Can report.

Incomes for senior families and single people remained virtually unchanged, the report showed, at $40,400 and $21,400 respectively.

However, the report also noted that the gap between the highest-income and lowest-income families in Canada widened to $105,400 in 2005, up from $83,800 in 1980.

The gap between the families with the lowest and highest incomes, an indication of income inequality, widened during the past decade, the agency said

Average after-tax income in 2005 was $128,200 for the 20% of families with the highest incomes, compared with $22,800 for the 20% with the lowest.

SEE:

Canada's Wealthy, Still

Productivity

Taxes

Wealth

Find blog posts, photos, events and more off-site about:
minimumwages, wages, social-wage, living-wage,
public, Canada, Harper, government, baby, bonus, tax-credit, politcs,
single-mothers, conservative economics, Stats-Canada, Working-Mothers,
StatsCanada, wealth, wealthy, millionaires, taxes, households, inequality, economics,